Secondary Markets Are ThrivingOmaha and San Antonio are two examples of secondary markets where the cost of entry is still reasonable.

@Benjamin Goodman gives a good example referencing live in flips. 

Is it possible that at times you lose money (such as soft costs - paying for property inspections for example and the deal ends of falling through)?

Take this example and remove the LLC as a part of this conversation for simplicity.

For example, population growth in certain neighborhoods and increased investor activity have created opportunities for both long-term rentals and value-add deals.If you’re torn between wholesaling and holding long-term rentals, I’d suggest thinking about your long-term goals.

An example of a mistake was a line item for alimony that I found on my taxes (I am single and have never been married).

If you need an example, go to my profile page.With that knowledge, I can then give you better direction as to where, what and how to invest with real estate.  

For example, the iconic Malibu waterfront homes were built directly over the water, many by variance, and assumedly will not be permitted to reconstruct, certainly not with the same materials or attached architecture.

Tampa for example, the most desirable STR's are also very desirable to owner occupants (near beaches, near downtown, etc). 

For example, 50+ units